Thailand's cannabis market is expected to grow by about 15% a year between 2023 and 2025, with the market value forecast to reach up to 43 billion baht in 2025, according to the latest study by the University of the Thai Chamber of Commerce (UTCC).
Thanavath Phonvichai, the UTCC's president, said after its partial decriminalisation on June 9, cannabis undeniably has the potential to become Thailand's new key economic crop. The crop can generate a lot of income for growers and small enterprises, as well as create economic opportunities for Thailand, he said.
